What are some of the most effective strategies for managing theft or commingling in a San Diego business?  How could the behavior of a business partner, fellow member in an LLC or another shareholder in a corporation affect your company?

Don’t Try to Take Action Yourself

It is never in your best interests to confront a business partner or co-owner you suspect of stealing and/or commingling of funds or assets.  If you are right, you may inadvertently provide an opportunity for them to cover their tracks and damage your own financial position.  If you are incorrect, the resulting damage to the business relationship may not be recoverable.

Young or inexperienced business owners often find themselves in situations where they “run and gun” in order to keep up with the ups and downs of managing a business.  They may not understand the laws of California and the necessity of sound business practices and controls.  They may not understand the complications of commingling, and the damage this does to the corporate veil that protects you and your family.

If you suspect a fellow business owner or partner of theft you should contact the experienced San Diego business attorneys at the Watkins Firm as soon as possible for a free consultation at 858-535-1511.  We have more than 40 years of experience in these cases and will provide substantive insight into the initial steps you should consider for managing theft or commingling in a San Diego business.

The Next Step is to Usually to Implement Monitoring and Controls

Our attorneys will help to develop and implement monitoring and/or controls and specific processes to clarify and document what is happening, and to reduce the likelihood of theft or unscrupulous business practices.  We have practical suggestions regarding the handling of cash, as well as transactions within the business accounts of your company.  We can help you to establish internal controls and processes that document the theft or other inappropriate activity such as commingling of assets, while protecting your own interests in the situation.  We provide guidance to our clients that is designed to protect the day-to-day operations of the business, and to provide documentation of inappropriate business practices such as misuse of funds or commingling.

What are your goals for the situation at hand?  If you intend to genuinely put a stop to this behavior and/or remove the party from an ownership position it will require substantial evidence and legal guidance.

40+ Years Experience Managing Theft or Commingling in a San Diego Business

Concerns about managing theft or commingling in a San Diego business affects more than just money, it can distract you from the most important focus of running your company.  Whether you want to catch a partner and remove them from the situation, or “influence” them to a higher level of accountability and restitution, the attorneys at the Watkins Firm will work to protect your interests and accomplish your goals.

The Watkins Firm has served the San Diego and Southern California business community for more than 40 years.  Ask how we have helped to manage similar situations and how we work to resolve business disputes in a timely and cost effective manner. We invite you to review our Podcast Episode 11 – Resolving Business Disputes, the strong recommendations of our clients and contact the Watkins Firm or call 858-535-1511 for a complimentary consultation today.

Contact a Business Law Or Real Estate Attorney Today

To set up a free, no-obligation consultation with our knowledgeable San Diego business lawyers, call us at 858-535-1511 or contact us online.